To permit a special amortization deduction for intangible assets acquired from eligible small businesses to take account of the actual economic useful life of such assets and to encourage growth in industries for which intangible assets are an important source of revenue.

Summary

Amends the Internal Revenue Code to allow a special amortization tax deduction for up to $5 million of the intangible property acquired from an eligible small business (i.e., a business with gross receipts not exceeding $5 million for the three preceding taxable years) after December 31, 2002.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 12 March 2003

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• Introduced in House (PDF)

  Introduced in House · EN · 12 March 2003

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• Introduced in House

  summary · EN · 12 March 2003

  Open at official source

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